Black Rock Cable Financing

Situation

Black Rock Cable, Inc. ("BRC") is a privately held provider of high-speed, unlit (dark fiber), fiber-optic networks for point-to-point and shared connectivity in a multi-county area covering the northwest corner of Washington State. BRC found itself dependent for financing upon a regional bank that was struggling to cope with nonperforming assets and a dwindling capital position. There was significant concern regarding the bank's ability to provide continued support.

ZS Role

Zachary Scott was engaged to assist BRC in developing a stable banking arrangement and additional senior-debt capacity to fund expansion of its network and meet ongoing demand by new and existing customers.

Results

The challenge of this engagement was building lender confidence and support in an exceptionally timid credit environment for a strong-performing business with a minimal traditional collateral backstop. Zachary Scott successfully assisted BRC in arranging a new banking relationship with Wells Fargo Bank, which refunded its existing financing on more favorable terms and secured a 40% increase in total credit availability to underwrite continued growth

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